USD/JPY is currently consolidating its overnight spike higher, having traded broadly between 82.70 and 83.20 since then in a nice pennant formation which normally should break higher. There are offers at 83.20/25 but there are also supposedly quite heavy stops above 83.70 and 84.50, mainly from options players. Also of note is that Japanese exporter offers seem to be a lot lighter than has been the case in recent months.
USD/JPY has disappointed the bulls on many occasions in recent times but with Kampo providing strong support under 82.00, the signs are certainly looking bullish.